New Nationwide Savings Accounts Offer Competitive Interest Rates
Nationwide, the world’s largest building society, has introduced new savings account options that could leave customers significantly better off. Both new and existing customers can take advantage of these accounts to earn up to £392 in interest over a year.
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The building society recently launched new issues of its Triple Access ISA, Triple Access Online Saver, and Flex Instant Saver accounts. These options provide competitive interest rates and are designed to reward savers who deposit and maintain funds for 12 months.
How to Earn £392 with Nationwide’s Savings Accounts
Triple Access ISA and Triple Access Online Saver
Savers who opt for the Triple Access ISA or the Triple Access Online Saver will benefit from a 4% annual interest rate. With the average UK savings balance sitting at £9,633.30 (according to Raisin data), this translates to £392.48 in interest over the course of a year.
- Access Options: The accounts allow for up to three withdrawals during the year without penalties. Any additional withdrawals will reduce the interest rate to 1.75% for the remainder of the term.
- Post-Year Changes: Once the 12-month term is complete, these accounts automatically switch to an instant access account with different terms.
Flex Instant Saver
For current Nationwide customers, the Flex Instant Saver offers a 3% annual interest rate. Unlike the Triple Access accounts, this option provides unlimited withdrawals without penalties, making it a more flexible choice for savers.
- Potential Earnings: Customers with the average UK savings balance would earn £293.01 in interest over a year with this account.
- Eligibility: This account is exclusively available to existing Nationwide customers.
Key Details and Availability
Nationwide confirmed that previous versions of the One Year Triple Access Online Saver/ISA and Flex Instant Saver were withdrawn from sale on December 12, 2024. The new issues can be opened via the following channels:
- Nationwide website
- Internet Banking
- Mobile app
- In-branch visits
To open an account, a minimum deposit of £1 is required.
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Tips for Maximizing Savings
1. Choose the Right Account for Your Needs
If you’re looking for the highest return and can limit withdrawals, the Triple Access ISA or Online Saver is the best choice. For those who may need more flexibility, the Flex Instant Saver is an excellent alternative.
2. Keep Track of Withdrawals
For Triple Access accounts, remember the three-withdrawal limit to avoid reducing your interest rate.
3. Start Saving Early
The sooner you deposit your funds, the quicker you’ll begin earning interest. Even a modest balance can add up with competitive rates like these.
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Why Savers Should Act Now
With interest rates like these, Nationwide’s new accounts are among the best options available to savers in the UK. Whether you’re saving for a major purchase, building an emergency fund, or simply looking to make your money work harder, these accounts offer excellent opportunities.
Don’t miss your chance to boost your savings! Visit Nationwide today to open an account and start earning more on your money.
Secure your financial future with smarter savings decision
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